Dogecoin Price Soared Over 2% Today, Indicating a Renewed Market Interest in the Leading Meme Coin

input:output: title: Dogecoin price soared over 2% today, indicating a renewed market interest in the leading meme coin. Amid the current surge, a top market expert has further fueled discussions with his bold prediction, hinting towards a potential DOGE rally to $2 by this month's end. So, here we explore the recent performance and the likely future movements of the leading dog-themed meme coin.

Dogecoin price soared over 2% on Thursday, signaling renewed interest in the token.

Amid the gains, a top market expert has also fueled discussion with his bold prediction, tipping towards a possible rally to $2 by this month's end.

So, let's delve into the recent performance and the likely future movements of the leading dog-themed meme coin.

Dogecoin Price Up 2%: Can It Sustain The Rally?

Dogecoin price today rose more than 2% and traded at $0.1673 and its 24-hour volume fell 32% to $1.21 billion.

Further, the token touched a 24-hour low of $0.15.

However, despite the current gains, the leading meme coin was down nearly 8% weekly while witnessing a slump of over 17% in the monthly timeframe.

Besides, a recent DOGE price prediction indicates that the meme coin might hover near the $0.15 level in April.

Despite that, Dogecoin Futures Open Interest was up 7%, indicating a strong market confidence towards the asset.

On the other hand, a top market expert also predicted a possible rally ahead for the token.

Dogecoin Price May Rally To $2 By End Of April

A well-known crypto elite CryptoELITES shared a bullish forecast for Dogecoin. In a recent post on X, the analyst highlighted a chart showing the next key targets for DOGE.

According to the projection, the meme coin will likely hit $0.75 next, followed by a breakout to $1.50 and even $2.70.

Meanwhile, the expert noted that Dogecoin price has already bottomed out, and he expects the price to touch at least $2 by the end of April or early May.

This bold call has generated fresh excitement within the meme coin market, especially as traders search for the next breakout coin amid a volatile crypto landscape.

Besides, the prediction comes at a time when meme coins are witnessing another wave of popularity. Dogecoin, the original meme coin, remains at the center of the hype.

This renewed attention could help the coin gain momentum in the short term.

Here’s Key Levels To Watch Ahead For DOGE

While the $2 target has caught headlines, other analysts offer a cautious optimism. Crypto expert Ali Martinez recently highlighted a key support level at $0.16.

According to Martinez, if DOGE price manages to hold above $0.16, a rally toward $0.57 could follow.

However, he also warned of downside risks. If Dogecoin price breaks below that level, the price might crash down to $0.06.

This has made $0.16 a critical zone for traders keeping an eye on the coin's next move.

Meanwhile, this prediction also comes amid soaring tensions among the market participants. For context, a recent report indicates that Elon Musk's leaving the D.O.G.E. (Department of Government Efficiency) might negatively impact the Dogecoin price ahead.